Retailers and suppliers say it didn’t pay to offer products for everyone, and customers didn’t care that much when they stopped
The furniture retailer Malouf sells beds and bedding in a fraction of the colors it did a few years ago. Newell Brands, the Sharpie maker, has retired 50 types of Yankee Candle. Coca-Cola offers half as many drinks.
Covid slashed consumer choices as companies pared their offerings to ease clogs in the supply chain. The logistical mess is behind them. But many of the choices aren’t coming back.
Retailers and suppliers across industries—from groceries to health, beauty and furniture—have said that it didn’t pay to offer products for everyone, and consumers didn’t care that much when they stopped.
Exactly. Market failure is described in econ 101 but as I remember it, it’s not emphasized as the typical case but rather as the exception. In reality it seems like it’s the other way around. Which … makes sense … given that competition is not efficient for maximizing profit among other variables.